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Affordable Housing Analysis in Zip Code 60174: LIHTC Investments and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60174 in St. Charles, Illinois, encompasses an area of 14.63 square miles with a population of 30,555 as of 2022. This zip code contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, comprising 178 total affordable units, all of which are designated as low-income units. The LIHTC-funded affordable housing represents approximately 1.52% of the zip code's estimated housing stock of 11,707 units.
The LIHTC program has made substantial investments in zip code 60174, providing $2,121,133 in project tax credits. This equates to an average federal funding of $11,916 per unit. Zip code 60174 accounts for 0.26% of Illinois' total LIHTC funding allocation.
Affordable housing has been present in this zip code for nearly two decades. The initial LIHTC project, Hunt Club Village, was completed in 2002, while the most recent project, Anthony Place Prairie Centre St. Charles, was finished in 2020. The 2020s marked the most recent period of affordable housing development activity.
The affordable housing inventory in zip code 60174 includes a variety of unit types. There are 57 one-bedroom units and 47 two-bedroom units, accommodating different household sizes and needs.
Over the past decade, zip code 60174 has experienced relatively stable population levels with minor fluctuations. The median income has demonstrated an overall upward trend, rising from $95,270 in 2013 to $102,779 in 2022. This indicates increasing economic prosperity in the area.
Racial demographics in zip code 60174 have gradually diversified. The white population decreased from 86% in 2013 to 79% in 2022. Concurrently, there were slight increases in Asian, Black, and Hispanic populations. The Asian population, in particular, grew from 1% to 4% during this period.
The completion of the Anthony Place Prairie Centre St. Charles project in 2020 coincides with this period of demographic change and income growth, potentially reflecting a response to evolving community needs.
Zip code 60174 has a modest but significant LIHTC-funded affordable housing presence, covering about 1.52% of the estimated housing stock. The area has seen consistent investment in affordable housing over nearly two decades, with the most recent project completed in 2020. While the zip code has experienced economic growth and increasing diversity, the continued development of affordable housing suggests an ongoing commitment to maintaining housing options for lower-income residents amidst these changes.
